UAE to fight back EU decision to impose new customs duties

(Plastemart) -- The UAE has decided to fight back against the EU decision to impose new customs duties on the country's plastics exports on the grounds the move has no justification. The decision means Polyethylene Terephthalate from the UAE, Iran and Pakistan will face EU import duties of ┬44.02, ┬139.70 and ┬42.34 per ton until 2015. The Ministry of Economy rebuffed EU claims that it is subsidising its plastics production and threatened to take the issue to the World Trade Organisation (WTO). In another statement, the six-nation Gulf Cooperation Council (GCC) said the country has the right to defend itself against that decision since there was no reason for a new tariff by the EU. The Ministry will ask the EU Commission, in accordance with WTO agreements, to open an interim review to ascertain the absence of any subsidy on its plastics production, which removes a main element for the continuation of such duties.

The EU is the GCC's top economic partner, with their two way trade rising to nearly US$132.5 billion in 2007 from US$110 billion in 2006 and US$107 billion in 2005. But the surplus has remained largely in favour of the EU due to a sharp growth in its exports to the Gulf region and the fact that the GCC's exports to the European markets are confined to oil, gas, petrochemicals and aluminium.

MRC

(prw) -- Composites materials specialist Gurit has won its first contract for a wind turbine blade mould to be delivered to a customer in Europe from its Red Maple tooling operation in China.

According to the company, this European order is another important achievement in the context of Gurit's global tooling strategy, following shipments of several blade moulds to European-controlled customers in China as well as the delivery of moulds to two customers in India this year.

⌠The rising interest from international customers in our tooling offering is very encouraging, said Rudolf Hadorn, CEO of Gurit.

MRC

(prw) -- Israel-based compound producer Tosaf has started production at a new compounding plant in Afula, bringing the company's total capacity for compounds and masterbatches up to 140,000 tonnes.

Joseph Halberstam, director of International Business at Tosaf, says the new plant was created in response to ⌠above average demand for its high performance compounds.

⌠This step distinctly strengthens our responsiveness in satisfying specific customer requests worldwide, he added.

MRC

(prw) -- The BPF-coordinated seven-member alliance of polymer-related interest groups has written a letter to the Chancellor of the Exchequer, George Osborne ahead of the publication of the Comprehensive Spending Review on 20 October.

The letter urges a 10% cut in the public sector workforce by 2015/16 together with a public sector pay freeze for two years. At the same time, the alliance recommended the maintenance of public sector capital spending on infrastructural projects at not less than 2.25% GDP so that the UK's competitiveness is not impaired. It also believes that the building and repair of public sector housing should be a priority.

In addition, the alliance reminded government that the National Audit office found that the public sector spent GBP 2.8bn on management consultancy firms.

MRC

(Bloomberg) -- Europe's biggest oil company, Royal Dutch Shell, is planning to invest nearly $40 billion in the U.S. through 2014 to boost production by 40%. The Hague-based company, which has spent more than $60 billion on extraction projects and acquisitions in the U.S. since 2004, may start 13 projects in 2010 and 2011.

The company's global project investments may exceed $100 billion by 2014. The company is also intending to sell at least $2 billion of producing assets in the Gulf in 2010 and 2011 as part of a $7-8 billion global disposal plan.

MRC